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CVN - Carnarvon Energy

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Thanks Pixel, heard of "selective hearing" well I was suffering from "selective reading" & only read what I wanted to read I should know better, Carnarvon have been getting nowhere fast for years
 
spongebobby said:
Could be offering a good entry here
Click to expand...

Again, in today's update, they don't say they're "pleased", simply updating the Market about the new spudding and informing us that it may take 10 days.
"Me no buy" ...
 
spongebobby said:
Could be offering a good entry here
Click to expand...

pixel said:
Again, in today's update, they don't say they're "pleased", simply updating the Market about the new spudding and informing us that it may take 10 days.
"Me no buy" ...
Click to expand...

I have no idea what this mob are up to, I bought at 4c and sold for a good profit many years ago. A decade long monthly chart. It has always been a good charting stock.

http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=AU%3aCVN&uf=0&type=2&size=2&sid=137552&style=320&freq=3&entitlementtoken=0c33378313484ba9b46b8e24ded87dd6&time=13&rand=220740851&compidx=aaaaa%3a0&ma=0&maval=9&lf=1&lf2=2&lf3=0&height=444&width=579&mocktick=1

The daily over 3 months looks as if there is some buying support.

http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=AU%3aCVN&uf=0&type=2&size=2&sid=137552&style=320&freq=1&entitlementtoken=0c33378313484ba9b46b8e24ded87dd6&time=6&rand=441949833&compidx=aaaaa%3a0&ma=0&maval=9&lf=1&lf2=2&lf3=0&height=444&width=579&mocktick=1

CVN may actually be worth keeping an eye on at 5.6c.

gg
 
spongebobby said:
Could be offering a good entry here
Click to expand...

It seems the big boys are still selling. PULSE broker report shows net buyers are mainly online retail clients of NAB Online, ETrade, Aus Invest (Westpac), D2MX; although Citi is up there too; BTA, Morgan, UBS have been selling, but so did Commsec clients.

 

Noice, very noice, a good blowoff may reveal support. Otherwise it is finito. It is about where I would buy, should buyers show with significant volume.

gg
 
Have to add two "big" net buyers, which I missed in the small print this morning:
"HarLim" has to be Hartleys Limited; "Macq" is of course Mackas.
When I noticed them - especially Hartleys - as top net buyers, I checked back to the announcement of the recent 8.2c cap raising. Guess who were joint lead managers ...
So, now their clients buy CVN. Could indeed be profitable to join them at these levels. ... at least till they're back around the spp level of 8.2c ...
 

Let us see the morrow.

gg
 
There seems to have been some recent movement up in the price of this stock.

It has been good to me and other ASF members in the past, I'm putting it on my watchlist again.

gg
 
Trading Halt

Looking forward to some good news regarding Phoenix South-1 Well
 
WOW...
Geat news for holders up 196.3%

Hard to assess this stock now as in, should profits be taken or stay for the ride.
 
HAICHUN HU said:
The price up to 0.275 now.
Click to expand...
Yea, I got just over a third on sale for 29c meaning the rest are free carried.

But don't really know what the stock is gonna do. Seems fairly weighted (Buyers/Sellers) atm.
 
HAICHUN HU said:
The price up to 0.275 now.
Click to expand...

It seems that "Elvis has left the building" - the smart money offloaded around 27c.
Those that bought the top will probably rue being sucked in. Given the depth of the pullback - well below midpoint of the range, and now even hovering below 1-phi - I can see another wave of profit taking/ stop-lossing adding more downward pressure.

 
Highlights
● Carnarvon reaches agreement to divest the balance of its Thailand assets
● Total cash consideration of US$58.2 1 million (A$68.5 million 2) payable on completion
● Sale further strengthens Carnarvon’s balance sheet with cash forecast to exceed A$100
million immediately upon transaction completion
● Transaction consistent with Carnarvon’s renewed strategic focus on the North West Shelf
of Western Australia, with extensive work programme expected for 2015
 

When trading resumed at 12 noon, the initial excitement was rather short-lived. Given current market mood, the subsequent sell-off isn't really surprising. Let's see where it'll close today.

 
transferring discussion from Tape Trader's general Oil thread:

CVN may indeed have found support earlier this year, when it fell back to 7c.
However, I also see resistance at current levels, and I am in doubt whether this resistance is about to be broken or not. Some investors may take heart, interpreting the chart pattern of the latest 7-8 months as a Cup and Handle. However, the increasing volume of Friday's and today's sell-off suggest the opposite.



For now, I'll stay off all oilers.
 
Carnarvon Petroleum moving up today after an update on the Dorado-1 well.

The CVN share price has just touched 17c and is looking like it might reach new highs soon.

 
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